Posted on 02/27/2007 1:29:53 PM PST by bobjam
It seems to me that every change in the economy brings opportunity. So then, if the economy collapses (recession or depression), what opportunities are there? Open for discussion....
If 'one' were to "get rich in a depression" I would assume that 'one' would also become a target.
I believe what you want is wealth.
"If you have money buy up assets at depressed values. The key is to have money during the depression."
Thats about it, cash would be king once more and your visa card would not be worth the plastic it is printed on. The ones with the most unsecured debt would be hammered into the ground.
"How does one get rich in a depression?"
bootlegging to get a stash, than enlarge that with inside trading in stocl market.. just ask Joseph Kennedy
Proverbs 10:22
The blessing of the LORD, it maketh rich, and he addeth no sorrow with it.
;-)
Buy a bar in a decent location.
Think about it. When times are good....people go drink.
When times are bad....people go drink.
All you have to do is change the name of the bar to meet the theme of the economy and you are set.
"things" being houses and land...
Yes, buy real estate at depressed prices - you can't lose long term.
Funeral homes, toilet paper and trailer parks
Mortician.
Joe did those things during the 20s Bull market before the depression.
And, to be fair, insider trading was actually legal during that era, although bootlegging was not.
I think he dabbled in loan sharking as well.
There's a lot to be said for inherited wealth. Look at all the morons who would be homeless if their grandfathers hadn't left them a pile. The Kennedys, for instance, or Jean-Pierre kerry, or Algore, etc, etc.
Bootleg whiskey.
anti depressants. stockpile.
Well, I can give you some personal examples from my Grandpa who was a man of 25 during The Great Depression. these things didn't immediately make him rich (that came later) BUT his ATTITUDE to do whatever needed to be done was what got him through and set him up for success in later life.
He had a wife, a 2 year old son (my Dad) his younger brother and his wife's father to support. Some of the things he did, and they did as a family:
Grandpa took ANY job, no matter how menial. I remember him telling me he had a large paper route that he delivered via bike or walked and pulled a wagon. He drove cab. He drove a bus. He had a car, so he rented out his car for others to use and for gas money, or he drove them places. He worked at a butcher shop doing some pretty gross things, but he was given the meat scraps to feed the family. He worked for a grocer, so same perks as at the butcher. He repaired roofs, windows, anything to do with your house. He pored cement. He kept a few chickens for eggs. He was a fishing guide. He refinished & repaired furniture that he found at the curb. I also remember him saying his deceased MIL ran a boarding house so they had a stockpile of furniture to sell for cash, too. He planted trees in the Conservation Corps.
So, until he was about 30, he did whatever needed to be done, which set him up as a great employee for businesses when there were jobs again. And no one starved or really lacked for anything. One of his sources of pride during that time was the fact that they never went "on the dole" and that he could provide for his family.
Probably being poor to begin with is easier for people in a Depression because you're already used to "making do." I can't see the clueless consumers of today faring half as well if things really go into the dumper.
But we'll be able to easily spot them; they'll be the ones jumping out of windows, LOL!
Bootleg Whiskey!
2. real estate
3. real estate
Liquor store.
Write a book on how to survive a depression. :-)
Joe Kennedy was buying people's portfolios for pennies on the dollar. That's how they really made their money.
Become a Democrat Politician?
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